MANCHIN STATEMENT ON HOUSE REPUBLICAN DEBT LIMIT PROPOSAL

Statement

"America is facing a historic economic crisis brought on by an abject failure to address our exploding national debt, chronic inflation, a looming recession, and the more immediate need to raise the debt ceiling. Our elected leaders must stop with the political games, work together and negotiate a compromise. Instead, it has been more than 78 days since President Biden last met with Speaker McCarthy. This signals a deficiency of leadership, and it must change. The fact is we are long past time for our elected leaders to sit down and discuss how to solve this impending debt ceiling crisis.

While it is reasonable to sincerely disagree with any specific debt ceiling approach, we will achieve a historic default, and the economic whirlwind which follows, if President Biden continues to refuse to even negotiate a reasonable and commonsense compromise. To that end, I applaud Speaker McCarthy for putting forward a proposal that would prevent default and rein in federal spending. While I do not agree with everything proposed, the fact of the matter is that it is the only bill actually moving through Congress that would prevent default. For the sake of the country, I urge President Biden to come to the table, propose a plan for real and substantive spending cuts and deficit reduction, and negotiate now. Failing to do so may score political points with the extremes of the Democratic Party, but make no mistake, it will be the American people -- and our nation -- who will pay the ultimate price if partisan politics continues to define our politics and policies."

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